Originally posted by dosdan My gut feeling is that the image quality of the top lens of about 10-20 years ago probably can't be improved upon, but modern automation, new production techniques, improvements in materials and a bigger leisure products user base and hence bigger potential volume of production means that today's lens (taken as a group) have a much better performance/price ratio than 10 years ago.
The only exception are the super telephotos - still quite pricey, but newer units use lighter materials. Some of the Canon or Nikon lenses are magnesium bodies, so care around salt water environments need to be observed (IIRC).
Cheers,
Marc